News: YBR Sequoia Financial's Unit Signed Sale Agreement To Provide Wealth Management Solutions

Dec 27 (Reuters) - Sequoia Financial Group Ltd (SEQ) :

• UNIT SIGNED A SALE AGREEMENT AND CROSS REFERRAL AGREEMENT TO PROVIDE WEALTH MANAGEMENT SOLUTIONS TO YELLOW BRICK ROAD GROUP
• SEQUOUNIT IS BUYING YBR'S SHARE OF RIGHTS TO RECURRING REVENUE STREAMS CURRENTLY DERIVED FROM WEALTH ADVICE AND LIFE INSURANCE BUSINESS
• DEAL FOR $2.5M
• DEAL TO RESULT IN ADDITIONAL $10M GROSS REVENUE / $0.6M EBIT OVER FIRST 12 MTHS IF ALL SELECTED YBR ADVISERS TRANSFER TO UNIT

Source text https://reut.rs/2PZhnSP

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